Tag Archives: Defaulters

RBI’s stand that defaulters’ list is not available is unacceptable

14 Thursday Apr 2016

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To an RTI enquiry, the Reserve Bank of India is stated to have replied that it has no list of wilful defaulters of bank loans! This is surprising and shocking. Another report states that the RBI is not willing to disclose the names of the defaulters and even the default amounts.

This position is completely unacceptable. It seems that the above decision is influenced by the policy of the government supporting the big business and corporates, the involvement of VVIPs in granting loans without sufficient security and also involvement of the top Bank Management.

Strong protests should come and compel the RBI to change its stand. The wilful defaulters should be exposed and the due amounts paid back.

Top Defaulters of Bank Loans

03 Sunday Apr 2016

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The Reserve Bank of India has at last furnished the list of willful defaulters of Public Sector banks to the Supreme Court. A supreme Court bench headed by Chief Justice T.S.Thakur had asked the Reserve Bank clarifications on the reported writing off of Rs.1.14 lakh bad loans for the period of 2013-15. The intervention of the Supreme Court was warranted as Vijay Mallya who has defaulted a whooping R.9000 crore to the PSU banks absconded.

The following is the bank wise list of top bad loans written off .

State Bank Of India- Rs.21,313 crore, Indian Overseas Bank- Rs.3,131 crore, Allahabad Bank-Rs.2,109 crore, IDBI-Rs.1,609 crore, Bank Of Baroda- Rs.1,564 crore, Syndicate Bank-Rs.1,527 crore, Canara Bank-Rs.1,472 crore, UCO Bank- Rs.1,401 crore, Central Bank of India-Rs.1,386 crore.

Some of the firms and persons who willfully defaulted after availing loan above Rs.500 crore is given below.The list as on 31-12-2015 containing 7129 defaulters is prepared based on the information received from the Credit Information bureau.

Zoom Developers- Rs.2411 core, Winsom Diamond & Jewellery- Rs.2266 crore , Deccan Chronicle Holdings- Rs.1314 crore, King Fisher Airlines- Rs.1,201 crore( from SBI only, the total default amount of Vijay Mallya from 17 PSU banks is Rs.9,000 core), Surya Vinayak Industries- Rs.1102 crore, Beeta Naptol- Rs.958 crore, Indian Technomat- Rs.724 crore Raza Textiles- Rs.695 crore, S.Kumar Nationalwide- Rs.681 core

The total loan amount defaulted willfully during the period is Rs.70,540 core.